Explaining Southern California's economy

Who wins in Saab bankruptcy? General Motors

Mercer 2095

Joe Raedle/Getty Images

It looks like it's finally game over for Saab, the struggling Swedish company that owner General Motors sold to an obscure Dutch carmaker in 2009. What now looms is a liquidation bankruptcy, with Saab effectively sold for parts.

I've written many, many, many times about Saab and its seemingly unending quest to revive itself, make good on the legacy of its "quirky" brand, and possibly even get bought by the Chinese or a Russian money man.

Fail on all those fronts. And now it looks as if they only company that will really get anything out of Saab is it former corporate parent, GM, which blocked an 11th-hour sale to a pair of Chinese companies but will be able to salvage some Saab tech for use in future GM cars, according to some reporting by the LA Times' Jerry Hirsch.

Saab was a somewhat popular brand in Southern California, along with Volvo, its Swedish cousin. This was a bit strange, as Saab was optimized for good performance in bad weather. However, as a result of all the love that Angelenos gave Saab — not to mention the very un-Swedish climate — there are plenty of well-preserved versions still tooling around. 

If you see one, give a honk or flash of the headlights, to acknowledge that an era is sadly coming to an end.

Follow Matthew DeBord and the DeBord Report on Twitter.

blog comments powered by Disqus